Synopsys Initiates $100 Million Accelerated Share Repurchase Agreement

MOUNTAIN VIEW, Calif., Sept. 14, 2017 — (PRNewswire) —  Synopsys, Inc. (Nasdaq: SNPS) today announced that it has entered into an accelerated share repurchase agreement (ASR) with HSBC, to repurchase an aggregate of $100 million of Synopsys stock. The agreement is in addition to Synopsys' $300 million in stock repurchases thus far in fiscal year 2017.

Under the terms of the ASR, Synopsys will receive an aggregate initial share delivery of approximately 1.01 million shares, with the remainder, if any, to be settled on or before November 20, 2017, upon completion of the repurchase. The specific number of shares that Synopsys ultimately repurchases under the ASR will be based on Synopsys' volume-weighted average share price during the repurchase period, less a discount.

About Synopsys

Synopsys, Inc. (Nasdaq: SNPS) is the Silicon to Software™ partner for innovative companies developing the electronic products and software applications we rely on every day. As the world's 15th largest software company, Synopsys has a long history of being a global leader in electronic design automation (EDA) and semiconductor IP and is also growing its leadership in software security and quality solutions. Whether you're a system-on-chip (SoC) designer creating advanced semiconductors, or a software developer writing applications that require the highest security and quality, Synopsys has the solutions needed to deliver innovative, high-quality, secure products. Learn more at www.synopsys.com.    

Forward-Looking Statements

This press release contains forward-looking statements, including statements regarding the expected settlement of the ASR. Forward-looking statements are subject to both known and unknown risks and uncertainties that may cause actual results to differ materially from those expressed or implied in the forward-looking statements. These risks and uncertainties include, among others: the market price of Synopsys common stock during the repurchase period; the ability of HSBC to buy or borrow shares of Synopsys common stock; and the impact of global and regional economic and market conditions, including illiquidity and other risks of instability in the banking and financial services industry. Other risks and uncertainties that may apply are set forth in the Risk Factors section of Synopsys' most recently filed Quarterly Report on Form 10-Q. Synopsys assumes no obligation to update any forward-looking statement contained in this press release.

INVESTOR CONTACT:
Lisa L. Ewbank
Synopsys, Inc.
650-584-1901
Synopsys-ir@synopsys.com

EDITORIAL CONTACT:
Carole Murchison
Synopsys, Inc.
650-584-4632
carolem@synopsys.com  

 

View original content: http://www.prnewswire.com/news-releases/synopsys-initiates-100-million-accelerated-share-repurchase-agreement-300519468.html

SOURCE Synopsys, Inc.

Contact:
Synopsys, Inc.
Web: http://www.synopsys.com




Review Article Be the first to review this article
Featured Video
Jobs
Geospatial Solutions Specialist for University of North Dakota at Grand Forks, North Dakota
GIS Analyst II for Foresters Co Op at Grass Valley, California
GIS Coordinator for City of Marysville at Marysville, Ohio
GIS Server Administrator (GIS Developer) for Seminole County Government at Sanford, Florida
BIM/CAD Specialist for Gordon Prill, Inc at Sunnyvale, California
Senior Project Architect for Gordon Prill, Inc at Sunnyvale, California
Upcoming Events
InterDrone 2021 --- Cancelled at Hyatt Regency Dallas TX - Aug 10 - 12, 2021
URISA GIS Leadership Academy at 701 Lee St #960 Des Plaines IL - Aug 16 - 20, 2021
8th International Scientific Conference on SOCIAL SCIENCES (ISCSS) 2021 at Congress Centre MARITIM PARADISE BLUE Albena Bulgaria - Aug 21 - 30, 2021



© 2021 Internet Business Systems, Inc.
670 Aberdeen Way, Milpitas, CA 95035
+1 (408) 882-6554 — Contact Us, or visit our other sites:
AECCafe - Architectural Design and Engineering EDACafe - Electronic Design Automation TechJobsCafe - Technical Jobs and Resumes  MCADCafe - Mechanical Design and Engineering ShareCG - Share Computer Graphic (CG) Animation, 3D Art and 3D Models
  Privacy PolicyAdvertise